Quote:
Originally Posted by Help-Ohio  Does your house have to be listed with an agent to do a short sale with HomeQ. |
Help0hio,
Yes, your house needs to be listed first with an agent before a lender deal with your request to do a Short Sale. Make sure that you ask the real estate agent if they have experienced doing Short Sale. Some lenders require that your house be on the market from 60-90 days before asking for a Short Sale. They will require you to give letter authorizing your agent to talk with your lender. YOu will submit a financial hardship letter stating reasons why you are asking for a Short Sale, a list of your monthly expenses, proof of income. etc.
It is also to your advantage and theirs too to have an agent because they have a lot of documents that you need to submit and sign like HUD1, listing price, contract that you signed with your agent, buyer's offer and the so called Short Sale package in which only a real estate agent can do. The lender will not approve your Short Sale if you don't have an offer from a buyer prequalified by your agent.
Hope this helps.